Lumax Industries Ltd Company Summary

Lumax Industries Ltd Summary

Lumax Industries Limited (LIL) is engaged in the business of manufacture, trading and supply of auto components, mainly automotive lighting systems for four wheeler and two wheeler vehicles.Lumax Industries established as a trading concern under the name Globe Auto Industries in Delhi on 1949 has got into manufacturing activity in 1957 by setting upa a plant in Delhi. Now it works 4 manufacturing units at Delhi, Faridabad, Gurgaon and Pune. Lumax Industries, incorporated on December 10, 1981 has renowned customers for its products -- Telco, Ashok Leyland, Ford, Hindustan Motors, Nissan, DCM Toyota, Bajaj Tempo, Mahindra & Mahindra, Maruti, Premier Automobilies, Hero Honda, Bajaj, etc. Lumaxs products are exported to the Gulf, African, South-East Asian and European countries. A number of the companys products have been type-approved by the defence sector.LIL had set up a new automobile lighting equipment unit at a cost of around Rs 400 million at Gurgaon, with latest technological advancements. In 1998-99, the company increased the installed capacity of its head lamps and tail lamps/rear combination lamps to 25,00,000 nos and 29,50,000 nos. During 2000-01 the installed capacity of Head Lamps & Filters have increased to 32,50,000 & 6,50,000 respectively.The company decided to spinoff its Mirror and Filter division which produces rearview mirrors and oil-filters into a separate company i.e. Lumax Aircleaners Ltd. The scheme of demerger arrangement is pending approval of the High Court as on Sep 11, 2003. This scheme envisages allotment of 1 equity share of the resultant new company for 4 shares of LIL. This demerger leaves LIL as a pure Auto Lighting company.During 2016-17, the Company set up first international state-of-the-art design centre in Taiwan in May, 2016; approved investment of about Rs 120 crores to its existing plant at Sanand, which was set-up in the year 2011 for supplies to Tata Nano and which was non-operational due to subdued volumes of Tata Nano. The Company commenced manufacturing operations in Sanand by expanding footprint further in Gujarat in 2017. During 2017-18, it inaugurated the 9th Lighting Manufacturing unit at Sanand, Gujarat; the State-of-Art automated facility was setup with an initial capacity of 3,00,000 car sets annually, which commenced Commercial Production with effect from 10th January, 2018.During the year 2020, the Company expanded Sanand & Bangalore manufacturing facility which costed Rs 64.86 cr; capex for new Projects at other Plants at Rs 53.46 cr and purchase of Plant & Machinery for PCB costing Rs 23.67 cr. Further, an expenditure on Research and Development facilities of Chakan and Gurugram was done to the tune of Rs 1.66 Cr.During the year 2021, the Company expanded Bangalore manufacturing facility costing Rs 14.70 crore, Capex for new Projects at other plants costing Rs 24.11 cr; Capex advance payment for new Projects at Bawal and Sanand (Under Development) - Rs 3.482 crore and Rs 3.78 crore respectively. Further, an expenditure on Research and Development facilities of Chakan and Gurugram was done to the tune of Rs 3.26 crore.During the year 2022, the Company commenced commercial production of automotive electronic components at its new manufacturing plant at Bawal, Haryana on 12 January, 2022 and also commenced the commercial production at its new Sanand Plant situated at Gujarat on 29 March, 2022.The Company acquired 100% equity stake in a Czech Republic based Company, -Lumax Industries Czech s.r.o., making it a Wholly Owned Subsidiary (WOS) of the Company in 2022-23. In 2023-24, the Company inaugurated Phase-I of the new plant at Chakan. The Company with the new launches in 2024, has started new manufacturing plant in the western region coupled with expansion in the Gujarat region.